Eddie Chiles, Texas Rangers majority owner, has...

Eddie Chiles, Texas Rangers majority owner, has taken the first steps to sell his interest in the American League club to 34% owner Gaylord Broadcasting Co., the Fort Worth Star-Telegram reported.

Chiles, who owns The Western Co. in Fort Worth, Tex., denied that preliminary negotiations were under way. “My decisions for the future will all be made based on what happens with the oil industry,” Chiles said.